M-cap of top-7 cos falls; ONGC becomes most valued firm

The combined market capitalisation (m-cap) of seven of the country's top-10 firms declined by Rs 49,487.59 crore last week, while state-owned ONGC grabbing the top slot as the most valued firm toppling Reliance Industries.

Mumbai: The combined market capitalisation (m-cap) of seven of the country's top-10 firms declined by Rs 49,487.59 crore last week, while state-owned ONGC grabbing the top slot as the most valued firm toppling Reliance Industries.

ONGC m-cap surged Rs 1,924.98 crore to Rs 2,37,842.34 crore on Friday on the Bombay Stock Exchange (BSE), replacing Mukesh Ambani led RIL as the most valued company in India.

The PSU energy major reclaimed the top position after a gap of nearly four-and-a-half years.

On August 17, Coal India Ltd (CIL) had dethroned RIL as the top-valued firm, ending the private sector energy giant's reign. However, its climb was short-lived as RIL reclaimed this position within six days on August 23.

During last week, the market valuation of CIL fell by Rs 21,444.04 crore to Rs 2,27,231.05 crore. During the period, the company's shares fell over 8 percent.